Total acquires Toshiba’s LNG business for ‘$15 million’

Total

French energy giant, Total SA is having a lucky day as it will be paying just about $15 million to acquire Toshiba’s LNG business.

The good deal is landing on Total’s ‘laps’ after China’s ENN Ecological Holdings Co. was blocked by the US policy restricting Chinese investments in American companies.

As part of the deal, Toshiba said it will pay Total the sum of $815 million. However, the deal is a major loss of Toshiba.

According to data compiled by Reuters, the company has just booked $859 million for the acquisition deal that collapsed.